Kolkata: Which are the to buy today? Choice Broking has three recommendations. The stock market began strong on Monday, but surrendered all the gains by the end of the trading session.
The impact of continuous selling by foreign investors, increasing tensions between Iran and the US, and weak global cues was clearly visible on the market. Both Sensex and Nifty closed with losses. This was the fourth consecutive trading session in the red. Sensex fell 508 points to close at 74267, while Nifty lost 165 points to close at 23382. Amid this decline, Choice Broking has assigned buy ratings to Advanced Enzyme Technologies, Persistent Systems, and Kajaria Ceramics. New target prices have also been announced for these stocks. The brokerage believes that these three stocks could see further upside from current levels. These stocks were selected based on technical charts and strong momentum.
Advanced Enzyme Technologies
Buying level: Rs 379.55
Stop loss: Rs 360
Target price: Rs 420
Persistent Systems
Buying level: Rs 5402
Stop loss: Rs 5140
Target price: Rs 5900
Kajaria Ceramics
Buying level: Rs 1101.70
Stop loss: Rs 1050
Target price: Rs 1200
Advanced Enzyme Technologies
Choice Broking has a buy recommendation on Advanced Enzyme Technologies. The stock is trading around Rs 378. The brokerage has a target price of Rs 420.
A stop loss of Rs 360 is recommended. According to the report, the stock has found support from the 20-day EMA, and buying is returning. Both volume and RSI are indicating a bullish trend.
Persistent Systems
The brokerage also has a bullish view on Persistent Systems. The stock is trading at Rs 5,380. A target of Rs 5,900 has been set, with a stop loss of Rs 5,140 recommended. According to the brokerage, the stock has broken out of a sideways range. It is also trading above the 20-day, 50-day, and 100-day EMAs. This suggests strong upside potential for the stock.
Kajaria Ceramics
Choice Broking also has a Buy recommendation on Kajaria Ceramics. The stock is trading at Rs 1,106. A target of Rs 1200 has been set. A stop loss of Rs 1,050 has been recommended. According to reports, the stock found support near the 50-day and 100-day EMAs and rebounded sharply from there. The improving RSI is also considered a bullish signal.